As the naira scarcity persists, some banks are shutting their branches over rising customer attacks,
This came a day after the Lagos State Police Command issued a warning that some groups were planning to unleash violence in the state due to the naira scarcity.
Some of the banks had started to allow non-essential employees to work from home.
Findings show Zenith Bank has shut down some branches in…
The Central Bank of Nigeria may fine banks hoarding new notes a sum of N5m and members of the public selling the new notes N50,000.
This was based on the Central Bank of Nigeria Act of 2007 and the Banks and other Financial Institutions Act of 2020.
According to the Banks…
Over 50 per cent of Point of Sale operators have closed their shops as scarcity of new and old naira notes bites harder, it has been learnt.
The National Chief Aggregating Officer of the Association of Mobile Money and Bank Agents in Nigeria, Hussein Olanrewaju, who…
A former teller at Sterling Bank, Gift Akpan, left the shores of Nigeria for the United States to pursue her dreams. Gift told The PUNCH that she had always wanted to travel but decided to gain hands-on experience in the local job market first and raise money to facilitate her migration.
“I graduated from the University of Ibadan as the best student in my set. I had always wanted to pursue my…
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has been presented the award of the Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards.
Organized by Leadership Media Group, publishers of Leadership newspapers…
A digital bank, Hope PSBank, a Unified Payment Services Limited subsidiary, has commenced a community inclusion initiative to support the Central Bank of Nigeria’s naira redesign policy.
Speaking at a press conference to unveil the initiative on Friday, the Managing…
Liability is defined by Merriam-Webster as the amount of money owned by an individual or entity. Debt burden can be a huge problem for individuals and businesses in Nigeria as it can lead to financial hardship and even bankruptcy. In recent years, as the popularity of electronic payment systems has grown, more lending platforms have emerged. It also made it easier for moneylenders to obtain loans…
VerifyMe Nigeria CEO Eshigie Aguele said the lack of a trust infrastructure is hindering the growth of small and medium enterprises (SMEs) in Nigeria.
In a statement provided to The PUNCH on Thursday, Aguele made the announcement while serving as a special guest on the…
Nigerian Central Bank Governor Godwin Emefiele urged Nigerians to understand, adding that the revised banknotes would be circulated and made available.
Apex Bank also ended commission sales on Feb. 10, pledging to replace old Naira banknotes with a new approach.
On Friday…
The coronation said the shortage of currency could continue after the election.
February 2, 2023
Coronation Merchant Bank has predicted that foreign exchange liquidity crisis affecting the economy may linger futher.
The Chief Economist of Coronation bank, Chinwe Egwim made this known via a statement on Wednesday while speaking on the launch of its 2023 Economic Review and Outlook report which focuses on trends for core macroeconomic indicators and relevant emerging policy themes that will…